Liberty Wealth Management LLC Acquires 27,173 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Liberty Wealth Management LLC grew its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 15,096.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,353 shares of the financial services provider’s stock after acquiring an additional 27,173 shares during the quarter. Liberty Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $195,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Findlay Park Partners LLP purchased a new stake in Arthur J. Gallagher & Co. in the second quarter valued at approximately $306,401,000. Vanguard Group Inc. raised its position in shares of Arthur J. Gallagher & Co. by 5.9% during the 2nd quarter. Vanguard Group Inc. now owns 23,763,727 shares of the financial services provider’s stock valued at $3,328,822,000 after buying an additional 1,332,944 shares in the last quarter. FMR LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 15.2% during the 2nd quarter. FMR LLC now owns 9,361,821 shares of the financial services provider’s stock worth $1,311,404,000 after acquiring an additional 1,237,328 shares during the last quarter. JPMorgan Chase & Co. grew its position in Arthur J. Gallagher & Co. by 17.4% in the second quarter. JPMorgan Chase & Co. now owns 5,127,614 shares of the financial services provider’s stock worth $718,277,000 after acquiring an additional 759,643 shares in the last quarter. Finally, Beck Mack & Oliver LLC increased its stake in Arthur J. Gallagher & Co. by 1,413.9% in the second quarter. Beck Mack & Oliver LLC now owns 529,858 shares of the financial services provider’s stock valued at $74,223,000 after acquiring an additional 494,858 shares during the last quarter. 83.12% of the stock is owned by institutional investors.

Shares of AJG stock opened at $158.52 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.33. Arthur J. Gallagher & Co. has a fifty-two week low of $101.95 and a fifty-two week high of $158.93. The firm has a market cap of $32.77 billion, a P/E ratio of 35.54, a P/E/G ratio of 2.57 and a beta of 0.69. The business’s 50 day moving average price is $146.71 and its 200-day moving average price is $142.53.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, July 29th. The financial services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.10. Arthur J. Gallagher & Co. had a net margin of 11.70% and a return on equity of 15.11%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.71 billion. As a group, equities analysts predict that Arthur J. Gallagher & Co. will post 5.31 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 17th. Investors of record on Friday, September 3rd were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Thursday, September 2nd. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 40.68%.

Arthur J. Gallagher & Co. announced that its board has authorized a share buyback program on Thursday, July 29th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 5.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

A number of research firms have recently issued reports on AJG. Atlantic Securities started coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, July 6th. They set an “overweight” rating and a $175.00 price objective on the stock. Truist increased their price target on shares of Arthur J. Gallagher & Co. from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, September 15th. Royal Bank of Canada boosted their price objective on shares of Arthur J. Gallagher & Co. from $142.00 to $150.00 and gave the stock a “sector perform” rating in a report on Friday, July 30th. Truist Securities increased their target price on shares of Arthur J. Gallagher & Co. from $165.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, September 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $140.22 price target (down from $160.00) on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, July 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Buy” and a consensus price target of $150.83.

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 4,583 shares of the firm’s stock in a transaction dated Thursday, September 16th. The shares were sold at an average price of $150.32, for a total value of $688,916.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, consulting, and third party claims settlement and administration services to both domestic and international entities. It operates through the following business segments: Brokerage, Risk Management and Corporate. The Brokerage segment comprises of retail and wholesale insurance brokerage operations.

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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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